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erma4kov [3.2K]
3 years ago
15

What document is a summary of the money a company brought in (revenue) and what it paid out (expenses)?

Business
1 answer:
alexgriva [62]3 years ago
4 0

The income statement shows a detailed picture of the transactions of all revenue and expenses. The income summary account then summarizes these figures in order to produce the statement of retained earnings. Both the income statement and income summary show the revenue and expenses of a company.

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According to the service marketing triangle, which of the following lists the types of marketing that must be successfully carri
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A. External, internal and interactive marketing

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Consumers are required to apply their skill or analytical or creative thinking to try to win a prize in a(n)
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Consumers are required to apply their skill or analytical or creative thinking to try to win a prize in contests.

Analytical or creative thinking:

While creative thinking is occasionally referred to as "lateral" thinking, analytical thinking is also known as logical thinking. Others go further to highlight the idea by comparing it to whether thinking is more left-brain (analytical) or right-brain (creative).

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7 0
2 years ago
One disadvantage of the corporate form of business ownership is the: Multiple Choice1. limited liability of its shareholders for
djyliett [7]

Answer:

2. double taxation of distributed profits

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Corporation is a business entity that is formed by the issuance, sale and purchase of shares or stock. It is owned by people known as shareholders and their liability is limited to the shares or stock held.

Considering all the options given, the only disadvantage in a corporation is double taxation of distributed profits. as the company incurs company income tax (CIT) and the dividend paid to shareholders attracts other forms of tax such as withholding tax.

4 0
3 years ago
The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Beg B
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a. $8,600

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The total raw materials was $8600 of which $6000 was debited to work in process and $2600 was debited to manufacturing overhead. The work in process is the cost of direct materials, hence the cost of good manufactured is given as the total raw materials which is $8600

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